GITNUX MARKETDATA REPORT 2024

Steel Fiber Industry Statistics

Steel fiber industry statistics indicate a steady growth in demand due to increased construction activities and infrastructure projects worldwide.

Highlights: Steel Fiber Industry Statistics

  • The global steel fiber market was valued at USD 2 billion in 2018.
  • The steel fiber industry is expected to register a CAGR of over 5% during 2021-2026.
  • The building & construction sector holds the majority share in usage of Steel fiber, accounting for around 45%.
  • Asia-Pacific region dominates the global steel fiber market.
  • Europe is estimated to record the fastest growth in the steel fiber industry.
  • The steel fiber industry in China accounts for almost 45% of global consumption.
  • The demand for steel fiber in India is expected to grow at 6.2% per year.
  • The U.S overall demand for steel fiber was 40 kilotons in 2019.
  • In 2018, the hook end steel fiber segment accounted for more than 45% of the overall volume share.
  • Steel fiber consumption in the composite reinforcement segment is expected to grow at a 6.5% CAGR from 2019 to 2025.
  • Japan's steel fiber market size is estimated to exceed 600 million USD by 2024.
  • The steel fiber industry in Saudi Arabia is expected to grow at a 5.4% CAGR during 2020-2026.
  • The global market for cold-drawn wire steel fiber is projected to reach 1.16 billion USD by 2025.
  • The concrete reinforcement application of steel fiber will account for around 85% of global share by 2026.
  • Industrial applications of steel fibers are expected to grow by 6.4% CAGR during 2018-2024.
  • The global steel fiber market for manufacturing industry applications is projected to surpass 450M USD by 2024.

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The Latest Steel Fiber Industry Statistics Explained

The global steel fiber market was valued at USD 2 billion in 2018.

This statistic means that the worldwide market for steel fiber products reached a total value of USD 2 billion in the year 2018. This figure reflects the economic significance of steel fibers within various industries such as construction, infrastructure development, and manufacturing. The market value indicates the total spending on steel fiber products by consumers and businesses globally during that year, demonstrating the demand and importance of steel fibers in modern industrial applications. This statistic serves as a key indicator of the size and growth potential of the steel fiber market and is essential for stakeholders, investors, and policymakers to understand the industry’s financial landscape and trends.

The steel fiber industry is expected to register a CAGR of over 5% during 2021-2026.

This statistic indicates that the steel fiber industry is projected to experience a Compound Annual Growth Rate (CAGR) exceeding 5% between the years 2021 and 2026. A CAGR of over 5% suggests a consistent and robust growth trajectory for the industry over the specified period. This forecast indicates a positive outlook for the steel fiber industry, potentially driven by factors such as increased infrastructure development, growing construction activities, and a rising demand for durable and high-performance materials in various applications. This growth trend implies opportunities for industry players, investors, and stakeholders to capitalize on the expanding market and potentially benefit from the anticipated growth in the steel fiber sector.

The building & construction sector holds the majority share in usage of Steel fiber, accounting for around 45%.

This statistic indicates that the building & construction sector is the largest user of steel fiber, representing approximately 45% of the total usage. This suggests that steel fiber plays a significant role in reinforcing structures in this industry, such as in concrete applications for enhancing strength and durability. The high usage percentage in the building & construction sector highlights the importance of steel fiber as a material in meeting the structural needs and safety standards of construction projects. This data underscores the reliance of the industry on steel fiber for various applications, emphasizing its significance in the sector’s operations and infrastructure development.

Asia-Pacific region dominates the global steel fiber market.

The statistic “Asia-Pacific region dominates the global steel fiber market” indicates that Asia-Pacific countries hold a significant market share in the steel fiber industry compared to other regions worldwide. This dominance can be attributed to factors such as the rapid industrialization, urbanization, and infrastructure development in countries like China and India, leading to a high demand for steel fibers in construction projects. Additionally, these countries have robust manufacturing capabilities and competitive advantages in terms of production costs, further cementing their position as key players in the global steel fiber market.

Europe is estimated to record the fastest growth in the steel fiber industry.

The statistic suggests that the steel fiber industry in Europe is anticipated to experience rapid expansion compared to other regions. This growth could be driven by factors such as increasing infrastructure development, advancements in technology, and changing consumer preferences. The growing demand for steel fibers in various sectors like construction, automotive, and industrial applications is likely a key driver behind this projection. The positive outlook for the European steel fiber industry indicates potential opportunities for market expansion, investment, and innovation in the region.

The steel fiber industry in China accounts for almost 45% of global consumption.

This statistic indicates that China, a significant consumer of steel fibers, holds a dominant position in the global market by accounting for nearly half of the total global consumption. The steel fiber industry in China is crucial for meeting domestic demands as well as playing a substantial role in shaping international market trends. This high level of consumption highlights the country’s strong industrial capabilities and construction activities, indicating that China is a major player in the steel fiber industry with significant influence on production volume, pricing, and market dynamics worldwide.

The demand for steel fiber in India is expected to grow at 6.2% per year.

The statistic that the demand for steel fiber in India is expected to grow at 6.2% per year indicates a positive trend in the market for steel fiber in India. This growth rate suggests that there is an increasing demand for steel fiber, likely driven by factors such as infrastructure development, construction projects, and industrial expansion in the country. A 6.2% annual growth rate signifies a steady and consistent rise in demand over time, highlighting potential opportunities for businesses operating in the steel fiber industry to capitalize on this growth trend and potentially expand their market presence.

The U.S overall demand for steel fiber was 40 kilotons in 2019.

In 2019, the United States had an overall demand for steel fiber reaching 40 kilotons. This statistic quantifies the total amount of steel fiber that was sought after and consumed within the country during that specific year. The demand for steel fiber can be influenced by various factors including construction projects, infrastructure developments, and manufacturing needs. Understanding the demand for steel fiber is crucial for industries and policymakers as it provides insights into economic activities, potential market growth, and overall trends in the steel fiber industry within the United States.

In 2018, the hook end steel fiber segment accounted for more than 45% of the overall volume share.

In 2018, the hook end steel fiber segment represented over 45% of the total volume share in the market. This statistic indicates that hook end steel fibers were the dominant product within the market, capturing a significant portion of the overall volume compared to other types of steel fibers. The high volume share of the hook end steel fiber segment suggests a strong demand or preference for this particular product by consumers or industry players in 2018. This data could be valuable for businesses and analysts looking to understand market trends and make informed decisions regarding product development, marketing strategies, and investment opportunities within the steel fiber industry.

Steel fiber consumption in the composite reinforcement segment is expected to grow at a 6.5% CAGR from 2019 to 2025.

This statistic indicates that the consumption of steel fibers in the composite reinforcement segment is projected to increase at a Compound Annual Growth Rate (CAGR) of 6.5% between the years 2019 and 2025. This growth rate suggests a steady and consistent upward trend in the demand for steel fibers used in composite reinforcement applications over the specified time period. The forecasted expansion in consumption implies that there is a growing preference for steel fibers as a reinforcement material, likely driven by factors such as infrastructure development, construction projects, and advancements in composite material technology. Overall, this statistic highlights a positive outlook for the steel fiber market within the composite reinforcement industry.

Japan’s steel fiber market size is estimated to exceed 600 million USD by 2024.

This statistic indicates that the steel fiber market in Japan is forecasted to grow substantially and surpass 600 million USD by the year 2024. This growth projection suggests an increasing demand for steel fiber products within the Japanese market, likely driven by factors such as infrastructure development, construction projects, and advancements in technology. The estimated market size exceeding 600 million USD by 2024 signifies significant potential for the steel fiber industry in Japan, presenting opportunities for businesses operating in the sector to capitalize on this growth trend and expand their market share.

The steel fiber industry in Saudi Arabia is expected to grow at a 5.4% CAGR during 2020-2026.

This statistic indicates that the steel fiber industry in Saudi Arabia is forecasted to exhibit a Compound Annual Growth Rate (CAGR) of 5.4% over the period from 2020 to 2026. CAGR is a useful metric for quantifying the average annual growth rate of an industry over a specified time frame, providing a stable and consistent representation of growth. The projected growth suggests an overall positive trend in the steel fiber industry in Saudi Arabia during the specified period, which may be driven by factors such as increasing demand for steel fiber in construction projects, infrastructure development, or other applications within the country. Additionally, it indicates potential opportunities for businesses and investors operating in this industry to capitalize on this growth trajectory.

The global market for cold-drawn wire steel fiber is projected to reach 1.16 billion USD by 2025.

The statistic indicates that the global market for cold-drawn wire steel fiber is forecasted to achieve a value of 1.16 billion USD by the year 2025. This signifies a significant economic opportunity in the industry, with growing demand expected for cold-drawn wire steel fiber products. Factors such as infrastructure development, increasing construction projects, and the need for durable and high-performance materials are likely to drive this market growth. The projection suggests a positive outlook for businesses operating in this sector, signaling potential for expansion and investment opportunities in the coming years.

The concrete reinforcement application of steel fiber will account for around 85% of global share by 2026.

This statistic implies that the use of steel fiber as a concrete reinforcement material is projected to dominate the global market, capturing approximately 85% of market share by the year 2026. This suggests a significant preference for steel fiber as a reinforcement material in the construction industry, likely driven by factors such as its strength, durability, and cost-effectiveness compared to other alternatives. The expected increase in market share indicates a growing adoption of steel fiber in concrete reinforcement applications worldwide, potentially impacting construction practices and infrastructure development over the coming years.

Industrial applications of steel fibers are expected to grow by 6.4% CAGR during 2018-2024.

This statistic indicates that there is a projected compound annual growth rate (CAGR) of 6.4% in the industrial applications of steel fibers from 2018 to 2024. This suggests that the usage of steel fibers in industrial applications is anticipated to increase steadily at a rate of 6.4% per year over this time period. The growth in industrial applications of steel fibers could be driven by various factors such as technological advancements, increasing demand for high-performance materials in industries like construction and automotive, and the overall economic development. This projection provides insights into the expected expansion of the market for steel fibers in industrial settings and can be valuable for businesses and stakeholders planning strategic decisions in this sector.

The global steel fiber market for manufacturing industry applications is projected to surpass 450M USD by 2024.

This statistic indicates that the global steel fiber market, specifically for manufacturing industry applications, is expected to exceed a value of 450 million US dollars by the year 2024. This projection suggests a significant growth trend in the demand and consumption of steel fibers within the manufacturing sector over the next few years. Factors such as increasing industrialization, infrastructure development, and the need for improved structural performance and durability in construction materials are likely driving this market expansion. It also suggests opportunities for businesses operating in the steel fiber industry to capitalize on this expected growth by developing innovative products and expanding their market reach.

Conclusion

With a deep dive into the steel fiber industry statistics, it is evident that the market is experiencing steady growth and technological advancements. The widespread use of steel fibers in construction and infrastructure projects, coupled with the emphasis on sustainability and durability, is driving the market forward. As more industries and sectors recognize the benefits of using steel fibers, we can expect a promising future for the steel fiber industry.

References

0. – https://www.www.prnewswire.com

1. – https://www.www.grandviewresearch.com

2. – https://www.www.globenewswire.com

3. – https://www.www.mordorintelligence.com

How we write our statistic reports:

We have not conducted any studies ourselves. Our article provides a summary of all the statistics and studies available at the time of writing. We are solely presenting a summary, not expressing our own opinion. We have collected all statistics within our internal database. In some cases, we use Artificial Intelligence for formulating the statistics. The articles are updated regularly.

See our Editorial Process.

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